The Corporation Bank is one of the leading nationalized banks in India. Nationalized in 1980, it has come a long way in establishing itself as a major bank in India.
Started in early 1906, it achieved a remarkable turnover in business with Rs 2, 84,722 crore in figure and it is now spread across the nation with 6677 branches and right now more than 13,000 employees work in this leading bank. In this 2013 year the Corporation Bank announced new rates on fixed deposit, find more details below.
Currently the Corporation Bank offering Fixed Deposit interest rates for General and Senior Citizens for 2013 year:
Fixed Deposits by Corporation Bank
- Corporation Bank describes its term deposits as money multiplier deposits. The deposit schemes can simply be reinvested, starting for a period of 6 months to 10 years.
- It is named money multiplier because in every quarter, interest money is added to the principal amount.
- The fixed deposits give you high returns and are very flexible because you get monthly, quarterly, six monthly and yearly interests.
- In unique schemes, the bank offers fixed deposits from 15 days to 10 years.
- If you sincerely wish to save, you can plan and save regularly through the fixed deposit schemes. These fixed deposits can be great security in times of your need.
Current FD Interest rates 2013 by Corporation Bank
The interest rates offered on FD from Corporation Bank is actually competitive as compare to other banks like Axis Bank as you can see that below for 1 to 10 years you can earn 8.75% interest rates which is OK in this 2013 year. However there are other banks Vijaya Bank FD rates is offering bit better returns.
Fixed Deposit Rates for Senior Citizen
On an average the senior citizens can earn 0.5% extra interest rates of Fixed deposit. If you deposit 1 year to 10 years then you can earn 9.25% interest rates , rest details are given below: